Is there gold in the L.A. River? The Los Angeles River Revitalization Corporation just released news that it was awarded a million dollar matching grant from the Santa Monica Mountains Conservancy in support of the Frank Gehry-led study of the 51-mile waterway.

Making clear that what they are embarking on is an initial study and not a “master plan,” the L.A. River Corp and the Gehry team, which includes OLIN Landscape Architects, Geosyntec, and others, are “developing a data-driven analysis of the river and formulating a set of recommendations for a range of river interventions and capital improvements based on design storm impacts and process methodology.” The stated goal of the study is to establish an identity for the river and propose “multi-use benefits.”

The L.A. River Corp noted that the Santa Monica Mountains Conservancy grant originated from the Safe Drinking Water, Water Quality and Supply, Flood Control, River and Costal Protection Bond Act of 2006. Deliverables associated with the award will focus on the Upper L.A. River, even as the study tasks itself with the full length.

According to the organization, the $1 million represents one-third of the larger project cost, which seems like a pretty trim budget for a project of this size.